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    Aerospace Actuators Market Report

    Aerospace Actuators Market Report
    Report code - SR2537 Published On : Apr,2023 No. of Pages: 170
    Aerospace Actuators Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    An aircraft actuator is a device installed in an aircraft that transforms electrical signals into mechanical movement. By moving levers and flaps, aircraft actuators have the ability to regulate velocity and engine speed. Key functions of actuators include adjusting flight control surfaces (rudders, elevators, ailerons, flaps, slats, and spoilers), positioning the engine inlet guide vanes, extending & retracting the landing gear, and opening & closing the cargo or weapon bay doors.

    The COVID-19 pandemic impacted the aerospace industry to the core, compelling industry participants to restructure their strategies and prioritize survival. The aerospace actuators market could not escape and witnessed a decline of 12.8% in 2020. The market further declined in 2021, due to slow air travel recovery paired with the halt in deliveries of B787 aircraft.

    The rapid recovery in air passenger travel, coupled with huge order backlogs of aircraft, is helping the market recover from 2022 onwards. Overall, the aerospace actuators market is likely to rebound at a promising CAGR of 4.8%, in the long run, to reach US$ 13.4 Billion in 2028.

    Recent Market JVs and Acquisitions: An inorganic growth strategy remains preferred in the market. Several crucial M&As led to several changes in the competitive landscape.

    • In 2022, Parker Hannifin Corp acquired Meggitt PLC for US$ 7.24 Billion. The acquisition further diversified Parker Hannifin Corp.’s presence in the market and expanded its portfolio of electromechanical actuators in the aerospace & defense markets.
    • In 2019, Parker Hannifin Corp. acquired Lord Corporation for US$ 3.675 billion (approx.). The acquisition expanded Parker Hannifin Corp.’s portfolio of materials science capabilities, electrification, and aerospace product offerings that are highly complementary.

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Platform-Type Analysis

    Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Defense, UAV, and Space.

    Commercial aircraft is estimated to remain the biggest demand generator during the forecast period.

    Actuator-Type Analysis

    Primary Flight Controls, Secondary Flight Controls, Landing Gear, Thrust Reversers, Engine Controls, Utilities, Seats, Weapon Release, Missiles, and Others.

    Primary flight control actuators are expected to be the dominant as well as the fastest-growing actuator type in the coming years.

    Actuator Technology-Type Analysis

    Hydraulic, Electric, Pneumatic, and Others

    Hydraulic is expected to remain the dominant technology, whereas electric is estimated to be the fastest-growing technology type during the forecast period.

    End-User-Type Analysis

    OE & Aftermarket

    Over the next five years, OE will remain the dominant and faster-growing end-user type.

    Region-Type Analysis

    North America, Europe, Asia-Pacific, and the Rest of the World

    North America is estimated to dominate the market, owing to the presence of numerous tier players, OEMs, and aerospace actuator manufacturers in the region.

     

    Platform Type

    The aerospace actuators market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, defense, UAVs, and space. Commercial aircraft is expected to remain the market's largest and fastest-growing platform type during the forecast period. A rise in the production rates of various commercial aircraft and upcoming aircraft programs is anticipated to boost market demand in the coming years.

    Actuator Type

    The market is segmented into primary flight control actuators, secondary flight control actuators, landing gear, thrust reversers, engine control, utilities, seats, weapon release, missiles, and others. The primary flight control actuator is expected to remain the dominant actuator type in the market, followed by secondary flight control actuators during the forecast period, owing to the high focus on safer and lighter flight control systems and the usage of a large number of actuators.

    Actuator Technology Type

    The market is segmented into hydraulic actuators, electric actuators, pneumatic actuators, and other actuators. Hydraulic is expected to remain the dominant actuator technology type in the market during the forecast period. Hydraulic actuators are easy to maintain and generate enough power to operate control surfaces with less weight & space. However, electric actuators are expected to replace conventional technologies due to their high efficiency, increased electric power, and precise level of control.

    End-User Type

    The aerospace actuators market is segmented into OE and aftermarket based on the end-user type. OE is estimated to remain the larger end-user type until 2028. Aftermarket held a smaller share of the market in 2022. Aerospace actuators have a long life usually aligned with the life of aircraft.

    Regional Analysis

    North America is anticipated to maintain its dominance in the aerospace actuators market. With one of the world’s largest fleets of both commercial and military aircraft, the USA is the market's growth engine. Most of the major players in the aerospace actuators market have their presence in the region to cater to the emergent needs of OEMs and be their partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

    Over the next five years, Asia-Pacific is expected to grow at the fastest rate in the market owing to rising demand for commercial aircraft to accommodate growing passenger traffic, rising defense spending in important economies, the opening of Boeing and Airbus assembly plants, and the coming of indigenous commercial aircraft.

    Key Players

    The market is moderately concentrated, with the presence of some regional and global players. An inorganic growth strategy is preferred, especially by the leading players. Several crucial M&As led to several changes in the competitive landscape. The following are the key players in the aerospace flight control systems market:

    • Collins Aerospace
    • Moog Inc.
    • Parker Hannifin Corp
    • Woodward Inc.
    • Liebherr Group
    • TransDigm Group
    • Triumph Group
    • Curtiss-Wright Corporation
    • Honeywell Aerospace
    • Safran S.A.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace actuators market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.

    The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 8 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for existing and new players.
    • Key success factors.

    The aerospace actuators market is segmented into the following categories:

    By Platform Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Space (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Actuator Type

    • Primary Flight Control Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Secondary Flight Control Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Landing Gears (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Thrust Reversers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Engine Control (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Utilities (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Seats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Weapon Release (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Missiles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Actuator Technology Type

    • Hydraulic Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electric Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pneumatic Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Other Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The aerospace actuators market is estimated to grow at a CAGR of 4.8% by 2028, driven by an expected rise in the production rate of key programs, entry of programs (B777x, C919, and MC-21), and expected rise in the aircraft fleet size.

    Collins Aerospace, Moog Inc., Parker Hannifin Corp, Woodward Inc., Liebherr, TransDigm Group, Triumph Group, Curtiss-Wright Corporation, Honeywell Aerospace, and Safran S.A. are the leading players in the aerospace actuators market.

    North America is estimated to remain dominant in the aerospace actuators market in the foreseeable future. North America is the aerospace manufacturing hub, with the presence of key OEMs as well as the presence of major actuator manufacturers.

    Asia-Pacific is estimated to remain the fastest-growing market for aerospace actuators in the foreseeable future, owing to the opening of Boeing and Airbus assembly facilities in China. A high focus on the development of aircraft indigenously by major Asian economies is adding a stir to the region's demand for actuators.

    Hydraulic is expected to remain the dominant technology type in the aerospace actuators market, during the forecast period due to several factors such as integrated redundancy in case of failure, overload protection, high speed, and force delivered by them.

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